Living in a hustle and bustle society, we don’t often stop and remind ourselves to make sure our insurance portfolio is up to date. Let’s be honest, most of us cross that path when we have to, and sometimes it can be too late in a serious scenario. With our lives changing so rapidly, sometimes the last call we make is to the insurance company to update our policies.
From years of experience in the insurance industry it’s best to complete a personal insurance review at least once per year. For those with a traditional insurance agents, this is probably offered to you on a yearly basis. For those with non-agent companies, you have to make sure to properly review your insurance declarations every time your policies renew. Also, don’t hesitate to call your company and make sure your information is up-to-date. Companies like Progressive and GEICO offer apps for your mobile and tablet device, so it’s much easier to stay on top of changes.
Preparedness. The last thing anyone wants to find out is that they’re lacking a certain coverage right after they’re involved in an accident or loss of some type. Have you ever been involved in an accident and immediately thought in silence, or said out loud, “I wonder if my insurance will cover this”? Maybe not, but that’s actually something that happens often, and then you’re frantically calling your insurance agent wondering if your policy will provide coverage. Let’s make sure that does not happen to you.
The main purpose of a personal insurance review is knowing that all your basis are covered in the event of a claim. Insurance is supposed to bring you whole again after a loss. If coverage is inadequate, it’s difficult and sometimes impossible to fully recover. Make sure to take advantage of your next personal insurance review.
There are several topics that are generally discussed during a personal insurance review. Typically the agent will review the number of drivers in the household, vehicles insured, policy discounts, coverages and questions that you may have.